10 people lost RM3.5 million
ZULIATY ZULKIFLI JITRA email@example.com
POLICE arrested a man allegedly linked to an illegal foreign currency investment scheme that siphoned RM3.5 million from investors in Kedah.
The man, 43, from Sungai Limau Dalam in Yan, was picked up by state Commercial Crime Investigation Department officers in front of a bank in Kota Sarang Semut at 4.30pm on Monday.
He has been remanded for four days.
State deputy police chief Senior Assistant Commissioner Sahabudin Abdul Manan said the arrest followed a report lodged by a woman who claimed she lost RM50,000 in an investment scheme.
“The RM3.5 million in losses involved 10 victims in Kedah.
“Investigations revealed that the scheme offered a 50 per cent profit each week to investors, but none of the victims received any payment.”
The suspect being led out of a court lock-up in Alor Star yesterday.